OREANDA-NEWS. Fitch Ratings has affirmed 16 classes of Wells Fargo Commercial Mortgage Securities, Inc.'s WFRBS Commercial Mortgage Trust Series 2014-C24 commercial mortgage pass-through certificates. A full list of rating actions follows at the end of this release.

KEY RATING DRIVERS

The affirmations are due to generally overall stable performance. The stable performance reflects no material changes to pool metrics since issuance, therefore the original rating analysis was considered in affirming the transaction. As of the October 2016 distribution date, the pool's aggregate principal balance has been reduced by 0.7% to $1.22 billion from $1.23 billion at issuance. No loans have been defeased, and interest shortfalls are currently affecting class G.

Overall Stable Performance: The transaction's overall performance remains stable and continues to be in-line with issuance expectations. However, one loan (0.3%) was transferred to the special servicer in August 2016 for payment default.

Limited Amortization: The pool is scheduled to amortize by only 9.3% of the initial pool balance prior to maturity. Approximately 38.5% of the pool is full term interest only, 41.6% of the pool is partial interest only and 19.9% of the pool consists of amortizing balloon loans.

Specially Serviced Loan: Currently, there is one specially serviced loan (0.3%). The loan transferred to special servicing in August 2016 for imminent monetary default due to the declining oil and gas economy which has significantly impacted the Bakken market and has resulted in approximately a 50% decline in occupancy and rents at the property.

Lower Loan Concentration: Loan concentration is lower than that of other recent transactions. The largest loan represents 9.6% of the pool, and the top 10 loans represent 46.5%.

High Retail and Florida Concentrations: Twenty-one loans (40.8%) are secured by retail properties. Fourteen loans (22.5%), including two top 10 loans, are located in Florida.

Investment-Grade Credit Opinion Loan: The largest loan in the pool, the St. Johns Town Center pooled note representing 9.6% of the pool, was assigned a Fitch credit opinion of 'AA-'sf on a stand-alone basis at issuance.

RATING SENSITIVITIES

The Rating Outlooks on all classes remain Stable. Fitch does not foresee positive or negative ratings migration until a material economic or asset-level event changes the transaction's overall portfolio-level metrics.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G-10

No third-party due diligence was provided or reviewed in relation to this rating action.

Fitch has affirmed the following ratings:

WFRBS 2014-C24

--$25 million class A-1 at 'AAAsf'; Outlook Stable;

--$55.3 million class A-2 at 'AAAsf'; Outlook Stable;

--$86.3 million class A-3 at 'AAAsf'; Outlook Stable;

--$240 million class A-4 at 'AAAsf'; Outlook Stable;

--$286.3 million class A-5 at 'AAAsf'; Outlook Stable;

--$59.2 million class A-SB at 'AAAsf'; Outlook Stable;

--$99.2 million class A-S* at 'AAAsf'; Outlook Stable;

--Interest-only X-A class at 'AAAsf'; Outlook Stable;

--$44.9 million class B* at 'AA-sf'; Outlook Stable;

--$32.6 million class C* at 'A-sf'; Outlook Stable;

--$176.7 class PEX* at 'A-sf'; Outlook Stable;

--$72 million class D at 'BBB-sf'; Outlook Stable;

--Interest-only class X-C at 'BB-sf; Outlook Stable:

--$25.8 million class E at 'BB-sf'; Outlook Stable;

--Interest-only class X-D at 'B-sf'; Outlook Stable;

--$10.9 million class F at 'B-sf'; Outlook Stable.

*The class A-S, class B and class C certificates may be exchanged for class PEX certificates, and class PEX certificates may be exchanged for the class A-S, class B and class C certificates.

Fitch does not rate the class X-B, X-E, G, SJ-A, SJ-B, SJ-C and SJ-D certificates.